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KRISTALINA GEORGIEVA, IMF: "I think we are not paying sufficient attention to the law of unintended consequences. We take decisions with an objective in mind and rarely think through what may happen that is not our objective. And then we wrestle with the impact of it.

Take any decision that is a massive decision, like the decision that we need to spend to support the economy. At that time, we did recognize that maybe too much money in circulation and too few goods, but didn't really quite think through the consequence in a way that upfront would have informed better what we do.

I subscribe entirely to what Christine [LaGarde, the president of the European Central Bank] said about climate shocks. We are already out of time. And the fact that whenever something hits us, we forget about these other crises is incredibly troubling.

I'm sorry. I'm going on here, but I'll finish in a second.

We act sometimes like eight years old playing soccer. Here is the ball, we are all at the ball. And we don't cover the rest of the field.

Our ability to deal with more than one crisis at one time is very, very limited. and we have to zero in o the really big things that could determine the future and keep our attention on them."

https://www.realclearpolitics.com/video/2022/04/22/imf_director_maybe_we_printed_too_much_money_without_thinking_of_the_unintended_consequences.html

Israel heading to elections, Knesset to disband, Lapid to become prime minister

Israel will be entering its fifth election in 3 and a half years * Earlier in the day, the government defeated two votes of no confidence

Israel will head to its fifth election in three-and-a-half years, after Prime Minister Naftali Bennett and Alternate Prime Minister Yair Lapid gave up Monday on their efforts to stabilize the coalition.

In a joint statement, Bennett and Lapid said that they will bring a bill to dissolve the Knesset to a vote next Monday. This means that elections will likely be held on October 25.

Sources close to Bennett said the duo's goal was to initiate an election on their own terms and not be forced out by opposition leader Benjamin Netanyahu.

According to the coalition agreement, Lapid will become caretaker prime minister until the election and until the new government comes into power. He is set to greet US President Joe Biden when he comes to Israel next month.

At a Knesset press conference, Bennett said his move to initiate an election was "not easy" but "the right decision." He said he did everything possible to maintain the government for longer.

"Believe me, we left no stone unturned," he said.

He wished Lapid well, calling him a "mensch" and vowing to ensure a smooth transition of power.

Lapid praised Bennett, for "putting the country before his personal interest" and said their friendship overcame obstacles. He called Bennett "a vital Israeli leader, innovative and brave" and said he had no doubt that his place is in the leadership of this country for many years to come.

"A year ago we started the process of rebuilding, and now: we're carrying it on and carrying it on together," Lapid said. "What we need to do today is go back to the concept of Israeli unity, not to let dark forces tear us apart from within. We must remind ourselves that we love one another, love our country, and that only together will we prevail."

Bennett challenges

Bennett spoke on Friday to Attorney-General Gali Baharav Myara who told him that the West Bank emergency bill could not be bypassed or extended beyond it's June 30 deadline. Because they had no way to pass the bill, Bennett and Lapid decided that it would be better to dissolve the Knesset, which automatically extends the security regulations in the West Bank.

Justice Minister Gideon Sa'ar blamed the downfall of the government on "irresponsible behavior by Knesset members in the coalition." He said the goal of the next election would be to prevent Netanyahu from returning to power and "mortgaging the country to his own personal interest."

There is still a chance that Netanyahu will succeed in forming an alternate government within the current Knesset. This would happen if members of the coalition - from New Hope and Yamina - switch sides and join Netanyahu's right-wing bloc.

https://www.jpost.com/breaking-news/article-709909